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Key Bank has been offering its banking products for over 180 years. Key Bank has its headquarters in Cleveland, Ohio. The bank serves 14 states with 1,029 full service branches throughout the country. Currently it is the seventh largest education lender and the tenth largest home equity lender in the country.
Account Incentives
Customers who invest their money with Key Bank have a variety of incentives at their fingertips. The main one is the rewards program. The Key Bank debit card, available with checking and money market accounts, is attached to this rewards program. It allows customers to earn rewards on every single purchase they make. These rewards points are turned in for products, gift cards, merchandise, electronics, services, and travel items.
Unique Offerings
Key Bank offers all types of personal banking accounts, loans and lines of credit, and investing and insurance products. Its self-service banking department allows customers to take care of many of their banking needs online or over the phone without the need to consult with a banking professional. The bank also has a private banking department for those customers who have large amounts of money to invest and protect. In this department, Key Bank offers planning services, investment products, and trust and estate solutions. Corporations and small businesses will also find a variety of products and services through Key Bank.
Awards and Accolades
Key Bank has high ratings from the various bank rating companies out there. The bank receives “investment grade” rating from the four credit rating agencies, and long-term deposits earn an A2 status from Moody’s and an A- from Standard and Poor’s.
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For the most part, Key Bank has good customer service ratings. Its free e-banking program is a positive that draws many customers to its products and services. Key Bank goes wrong with its low interest rates, which are often below the industry standard. Couple this with high fees and many customers find they lose money when investing with Key Bank, rather than earning any.
Fees can be especially high with checking accounts, including maintenance fees on some, so many customers do not choose this bank for their checking products. If you are looking for a bank with strong customer service, a rewards program, and savings accounts, then consider Key Bank. If all you need is a checking account, read the fine print carefully, or look for a different bank with fewer fees.